Notermans, Ton, (2016), “An ever More Polarized Union: The Greek Problem and the Failure of EU Economic Governance”, CESpapers – open forum #24
As the Greek economy continues on its downward trajectory, the policy debate has degenerated into a re-enactment of the neoclassics versus Keynesians controversy. Yet, the Greek crisis can be solved neither by more austerity and structural reforms nor by Keynesian reflation. The core problem lies in a form of integration that has systematically weakened the Greek economy while stabilizing a clientelistic mode of interest intermediation. In order to recover, Greece needs a substantial devaluation plus an interventionist industrial policy. Yet, such a form of integration is not palatable to the North West European creditor countries, nor is it attractive to the Greek government as it would require a break with the clientelistic organization of political power while removing the scapegoat of the EU.
- Theodoropoulou, Sotiria, (2015), “How to avert the risk of deflation in Europe: rethinking the policy mix and European economic governance”, European trade union institute, No 16, 2015
- Maris, Georgios, Sklias, Pantelis, (2015), “France, Germany and the New Framework for EMU Governance”, Journal of Contemporary European Studies, Vol.23, Issue 2, 13 Ιουλίου